Guideline Value for Viswanathan Street

Viswanathan Street guideline value

The current guideline value of Viswanathan Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Viswanathan Street has changed

The guideline value for Viswanathan Street has seen several revisions over the years. In 2003, the value was Rs 503 per sq.ft, which increased to Rs 800 per sq.ft in 2007, marking a significant rise of 59%. The value then surged dramatically to Rs 3,200 per sq.ft in 2012, reflecting a 300% increase. However, it dropped to Rs 2,144 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw the value rise again to Rs 3,200 per sq.ft, and the latest revision in 2024 has set it at Rs 3,520 per sq.ft, an increase of 10% from the previous year.

It is important to note that there is no figure available for the year 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 600%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Viswanathan Street's 2024 figure above this median.

• Viswanathan Cross Street: Rs 3,520 per sq.ft (2024)
• Vivekanada Cross Street: Rs 3,300 per sq.ft (2024)
• Vivekanadar Street (Gandhi Nagar inside): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Chandrasekaran Street): Rs 2,750 per sq.ft (2024)
• Vivekanadar Street (Near Kolappan Street): Rs 2,750 per sq.ft (2024)
• Vivekanada Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Viswanathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty, charged at 7%, would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, the total cost for stamp duty and registration would be Rs 3,16,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Viswanathan Street?

The Sub Registrar Office that covers Viswanathan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value plays a crucial role in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the legal financial obligations involved in the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, which are mandatory for the registration of the sale deed. This ensures transparency and compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Viswanathan Street?

The current guideline value of Viswanathan Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 503 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, reflecting a significant increase over the years, with a notable rise of 600% overall.

What is the land classification for Viswanathan Street?

Viswanathan Street is classified as Residential Class I Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Viswanathan Street?

The Sub Registrar Office for Viswanathan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Viswanathan Street?

Stamp duty for properties in Viswanathan Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,20,000, the stamp duty would be Rs 2,46,400 at a rate of 7%.